Company Overview - Illumina Inc. is a life sciences company based in San Diego, CA, providing tools and integrated systems for analyzing genetic variation and function. Its proprietary technologies offer innovative sequencing and array-based solutions for various genetic studies, serving customers including genomic research centers, academic institutions, government laboratories, hospitals, and pharmaceutical companies [11]. Investment Ratings - Illumina has a Zacks Rank of 3 (Hold) and a VGM Score of A, indicating a solid overall performance. It also has a Value Style Score of B, supported by attractive valuation metrics such as a forward P/E ratio of 19.82, which may appeal to value investors [12]. Earnings Estimates - In the last 60 days, eight analysts have revised their earnings estimates upwards for fiscal 2025, with the Zacks Consensus Estimate increasing by $0.08 to $4.49 per share. Illumina has demonstrated an average earnings surprise of 106.1%, highlighting its potential for exceeding expectations [12]. Investment Consideration - With a strong Zacks Rank and high Value and VGM Style Scores, Illumina is recommended for investors looking for stocks with solid fundamentals and growth potential [13].

Core Insights - Illumina, Inc. has partnered with Broad Clinical Labs to enhance single-cell project capabilities, aiming to develop a 5-billion cell atlas within three years [1][4]. Company Developments - Following the announcement of the collaboration, Illumina's stock experienced a decline of 3.1%, closing at $94.20 [2]. - The partnership is expected to improve the processing and analysis of single-cell reads, facilitating large-scale functional genomics studies and accelerating discoveries in disease modeling and drug development [2][4]. - Illumina's market capitalization stands at $14.92 billion, with an anticipated earnings growth of 83.27% year-over-year in 2025 [3]. Technological Advancements - The collaboration will leverage Illumina's advanced technologies, including Single Cell Prep, NovaSeq X Plus platform, and DRAGEN analysis software, to create a high-throughput workflow for single-cell samples [5]. - Broad Clinical Labs will utilize state-of-the-art techniques such as Perturb-seq and CRISPR screens to support rapid data generation in whole genome studies [5]. Industry Outlook - The global single-cell analysis market was valued at $4.34 billion in 2023 and is projected to grow at a CAGR of 18.7% from 2024 to 2030, driven by advancements in sequencing technology and increasing applications in disease diagnosis and drug development [6]. - Illumina's recent collaboration with NVIDIA aims to enhance the analysis of multiomic data through AI, further positioning the company in the evolving landscape of clinical research and genomics [9]. Stock Performance - Over the past year, Illumina's shares have declined by 31.2%, contrasting with an industry decline of 8.7% [10].

Company expands multiomics portfolio with new roadmap technologies spanning genomics, spatial, single cell, CRISPR, and methylation, as well as a new multimodal data analysis platformBuilt on Illumina's powerful sequencers, new, disruptive omics solutions surpass industry standards for quality, scale, accuracy, and replicabilitySAN DIEGO, Feb. 24, 2025 /PRNewswire/ -- Illumina, Inc. (NASDAQ: ILMN) has unveiled a series of roadmap innovations, establishing the industry's largest portfolio of omics solutions ...

Longstanding partners bring together end-to-end workflows and leading CRISPRPerturb-seq technologies setting a standard for single-cell studies and enabling a 5billion single-cell atlas ecosystem within three yearsSAN DIEGO, Feb. 21, 2025 /PRNewswire/ -- Illumina, Inc. (NASDAQ: ILMN), a global leader in next-generation sequencing and array-based technologies, today announced a collaboration with Broad Clinical Labs to rapidly streamline and scale single-cell projects with cutting-edge tools and workflows. T ...

Broad Institute to collaborate on flagship project tapping Illumina's new spatial technologyAt AGBT, customers will present data demonstrating unparalleled scale and sensitivity in research spanning pulmonary fibrosis, prostate cancer, and 3D reconstructions of mouse brainsCompany expands software portfolio to decode multimodal data with Illumina Connected MultiomicsSAN DIEGO, Feb. 19, 2025 /PRNewswire/ -- Illumina, Inc. (NASDAQ: ILMN) today announced a new spatial technology program that will empower resea ...

SAN DIEGO, Feb. 18, 2025 /PRNewswire/ -- Illumina, Inc. (NASDAQ: ILMN) today announced that investors, analysts, and other interested parties can access a live webcast of its upcoming investor session at the AGBT conference. The investor fireside chat will begin at 8:00am Pacific Time (11:00am Eastern Time) on Tuesday, February 25, 2025 and will feature Jacob Thaysen (Chief Executive Officer), Ankur Dhingra (Chief Financial Officer), and Steve Barnard (Chief Technology Officer).Interested parties may access ...

Revenue Performance - Revenue decreased by 3% in 2024 to $4.4 billion compared to $4.5 billion in 2023, primarily due to a decrease in sequencing instruments revenue[170]. - Total revenue for the year ended December 29, 2024, was $4,372 million, a decrease of 2.9% from $4,504 million in 2023[258]. - Product revenue decreased to $3,656 million in 2024 from $3,787 million in 2023, representing a decline of 3.5%[258]. - Core Illumina consumables revenue increased by 2% to $3.169 billion in 2024, primarily due to an increase in NovaSeq X consumables[173]. - Core Illumina instruments revenue decreased by 29% to $501 million in 2024, driven by fewer shipments of high-throughput instruments[173]. - Revenue from product sales is recognized upon delivery to the end customer, with invoicing typically occurring upon shipment and payment due within 30 days[294]. - Revenue from Greater China was $308 million in 2024, down from $384 million in 2023, a decline of 19.8%[353]. - Americas revenue was $2,441 million in 2024, down from $2,521 million in 2023, a decline of 3.2%[353]. Financial Performance - Gross margin increased to 65.4% in 2024 from 60.9% in 2023, driven by operational excellence initiatives and a favorable revenue mix[170]. - Loss from operations improved to $0.8 billion in 2024 from $1.1 billion in 2023, due to a decrease in operating expenses and an increase in gross profit[171]. - The net loss for 2024 was $1,223 million, compared to a net loss of $1,161 million in 2023, reflecting a $62 million increase[187]. - The company reported a net loss of $1,223 million for the year ended December 29, 2024, compared to a net loss of $1,161 million in 2023[258]. - The company incurred a goodwill and intangible asset impairment of $1,889 million in 2024, compared to $827 million in 2023, reflecting a significant increase[268]. - The company recorded a net unrealized loss of $310 million on marketable equity securities in 2024[360]. Cash Flow and Investments - Cash, cash equivalents, and short-term investments totaled $1.220 billion at the end of 2024, with approximately $439 million held by foreign subsidiaries[171]. - Net cash provided by operating activities in 2024 was $837 million, a significant increase from $478 million in 2023[202]. - Net cash used in investing activities was $178 million in 2024, including $128 million in capital expenditures and $81 million for an acquisition[205]. - The company issued $500 million in 2026 Term Notes in September 2024, with net proceeds of $497 million used to repay part of the outstanding debt[193]. - The company anticipates that current cash, cash equivalents, and short-term investments are sufficient to fund near-term capital and operating needs for at least the next 12 months[201]. Operational Efficiency - Core Illumina's R&D expense decreased by $42 million, or 4%, in 2024, primarily due to reductions in headcount and employee compensation costs[180]. - Core Illumina's SG&A expense decreased by $348 million, or 28%, in 2024, mainly due to gains on GRAIL contingent consideration liability and reduced restructuring charges[181]. - Total consolidated operating expense decreased by $119 million, or 3%, from $3,813 million in 2023 to $3,694 million in 2024[180]. Strategic Initiatives - Strategic goals for 2025 include a focus on returning to revenue growth and further progress in operational excellence initiatives[169]. - The company plans to continue advancing research and development efforts and may pursue strategic acquisitions to enhance product offerings[202]. GRAIL Spin-Off - The Spin-Off of GRAIL on June 24, 2024, resulted in Illumina retaining approximately 14.5% of GRAIL common stock[165]. - The company completed the Spin-Off of GRAIL on June 24, 2024, distributing approximately 85.5% of GRAIL's outstanding common stock to Illumina stockholders[272]. - The cash contribution to GRAIL for 2.5 years of operations was determined to be $974 million, net of cash and cash equivalents held by GRAIL[346]. Impairment and Valuation - GRAIL's goodwill and intangible impairment in 2024 was $1,886 million, significantly higher than the $821 million in 2023[183]. - The impairment assessment of GRAIL IPR&D involved significant estimation uncertainty, particularly regarding forecasted revenues and discount rates[251]. - The company recorded an impairment loss of $420 million related to GRAIL in-process research and development (IPR&D), with a carrying value of $140 million post-assessment[250]. Tax and Interest - The effective tax rate was (3.8)% in 2024, impacted by non-deductible goodwill impairment and the reversal of a fine related to the GRAIL acquisition[171]. - Interest income decreased by $12 million, or 21%, to $46 million in 2024, while interest expense increased by $23 million, or 30%, to $100 million[185]. Market and Currency - The total notional amounts of outstanding forward contracts for foreign currency purchases was $621 million as of December 29, 2024, used to hedge portions of foreign currency exposure associated with forecasted revenue transactions[237]. - The company had foreign exchange forward contracts in place to hedge exposures in multiple currencies, including euro and Japanese yen, as of December 29, 2024[327].

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